Geneva: Airlines in the Middle East will see their losses double to $200 million (Dh735 million) in 2009 as the global aviation industry faces falling revenues due to the economic slowdown, the International Air Transport Association (IATA) said yesterday.
The Geneva-based industry group said the challenge for the region will be to match capacity to demand as fleets expand and traffic slows, particularly for long-haul connections.
It said the global aviation industry will lose $2.5 billion in 2009 on top of the $5 billion it is forecast to lose this year.
The sharp fall in fuel prices, which could have placed the industry in a positive financial position, will be offset by the excessive loss of revenues.
This fall in revenues will be the highest the industry has suffered in 50 years
The Geneva-based industry group said the challenge for the region will be to match capacity to demand as fleets expand and traffic slows, particularly for long-haul connections.
It said the global aviation industry will lose $2.5 billion in 2009 on top of the $5 billion it is forecast to lose this year.
The sharp fall in fuel prices, which could have placed the industry in a positive financial position, will be offset by the excessive loss of revenues.
This fall in revenues will be the highest the industry has suffered in 50 years
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